1) Retail sale of cosmetics

2) Clothing and footwear

3) Retailing of luxury goods

Article 6 of Law 3959/2011

Operative part of the Decision

The Hellenic Competition Commission (HCC), in Chamber, unanimously approved, pursuant to Art. 8(3) of Greek Law 3959/2011, the notified concentration under ref. no 5062/21.06.2023 concerning the acquisition by the company under the name “ΙDEAL HOLDINGS S.A.” of sole control over the company under the name “K.T. GOLDEN RETAIL VENTURE LTD” and, therefore, over the latter’s only subsidiary under the name “ATTICA DEPARTMENT STORES SINGLE MEMBER S.A.”, as the proposed transaction, although falling within the scope of article 6(1) of the Greek Law 3959/2011, does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned.

1. “ΙDEAL HOLDINGS S.A.”

2. “K.T. GOLDEN RETAIL VENTURE LTD”

The proposed transaction consists in the acquisition by ΙDEAL HOLDINGS S.A. (“IDEAL HOLDINGS”) of 100 % of the share capital of K.T. GOLDEN RETAIL VENTURE LTD (“Κ.Τ. GOLDEN”), therefore, in the acquisition of sole control over the whole of the undertaking.

The concentration does not result in horizontal overlaps as IDEAL HOLDINGS S.A. and the undertakings controlled thereby are not active in the wider market for clothing, footwear and cosmetics in Greece. In addition, the concentration does not lead either to vertical effects as the activities of one party to the transaction are not carried out in an upstream or downstream market compared to the activities of the other party to the transaction. Finally, the evidence in the case file does not show the existence of any conglomerate effects, as that the scope of IDEAL HOLDINGS companies’ business activities is irrelevant to that of the target company.